‘CLCS scheme crucial in raising MSMEs contribution to GDP’
   Date :03-Dec-2019

CLCS scheme crucial in ra
 (From left) B Ashok Kumar, V R Sirsath, P M Parlewar, Madhav Chandrikapur, Sunil Arora and Y B Baghel at the loan mela held here in the city.
Business Bureau :
 
The CLCSS scheme would be crucial in raising MSME contribution to gross domestic product from the current 29 per cent to 50 per cent, in addition to increasing exports from the sector to 50 per cent from 40 per cent now, said Parlewar  
 
MSME-DI Nagpur organised Credit Facilitation (Loan Mela) along with Canara Bank, State Bank of India, Allahabad Bank, Central Bank of India, Punjab National Bank, Union Bank, Bank of Maharashtra and others. Banks play a very important role in entrepreneurship development by providing finance to prospective as well as existing entrepreneurs. The banks provide working capital for expansion of their business. The programme was organised to develop a link between bankers and entrepreneurs. The programme was conducted with an objective to allow the entrepreneurs and bankers to have one to one interaction and get acquainted with the schemes and processes of banks for credit loan.
 
The objective of Credit Linked Capital Subsidy scheme (CLCS) component of Credit Linked Capital Subsidy and Technology Up-gradation scheme (CLCS- TUS) is to facilitate technology to MSEs through institutional finance for induction well established and proven technologies in the specific sub-sector / products approved under the scheme. P M Parlewar, Director, MSME-DI Nagpur presided over the programme. K Mohapatra of Canara Bank; B Ashok Kumar of State Bank of India; Sunil Arora of PNB; Mahadev Chandrikapure of Bank of India; V R Sirsath, Deputy Director, MSME-DI were present on the dais. While addressing the entrepreneurs present, Parlewar explained the objective of organising the Loan Mela.
 
He said this is a new initiative which provides great opportunity to the existing and prospective entrepreneurs to interact with the bankers and get acquainted with the formalities and process of the banks for getting loan. He explained that Ministry of MSME is operating various schemes for technology upgradation of MSMEs. The CLCS component of CLCS-TU scheme aims at facilitating technology upgradation by providing 15 per cent capital subsidy to MSE units.
 
He said the CLCSS scheme would be crucial in raising MSME contribution to gross domestic product from the current 29 per cent to 50 per cent, in addition to increasing exports from the sector to 50 per cent from 40 per cent now, Parlewar said. The scheme provides an upfront subsidy of 15 per cent on institutional credit up to Rs 1 crore for MSMEs in the specified 51 sub-sectors. He appealed to all the entrepreneurs present to get acquainted with the documentation procedure of the banks and benefit from the programme. Dr Sirsath in his welcome address, explained about the programme in brief and also spoke about the various schemes of Ministry of MSME for the existing and prospective entrepreneurs.
 
The participants interacted with the bankers present on large number on one to one basis and got acquainted with the procedure and formalities of banks for getting loan. The bankers said that credentials and record is taken into consideration by the banks. Separate counters were provided to the bankers and the participants interacted with them on one to one basis. Solutions were provided to the problems of the existing and prospective entrepreneurs. The programme was co-ordianted by Y B Baghel, Asstt Director, MSME-DI Nagpur who also proposed the formal vote of thanks. More than 40 entrepreneurs attended the event.